Introduction
If you are not into gambling but into the trading business, it is about time that you start loving playing poker. Conducting your trades is very much similar in handling your cards in poker. When you start playing, you will start noticing some similarities between the two. What happens in this game of cards can actually happen in the trading market. Thus, your trading education is applicable to poker. Day trading tips for beginners involve learning the playing style of a poker expert.
Day Trading Tips Rules from a Poker Player
Probably the best similarity between the two is that you have to make decisions based on uncertainty and doubts. In poker, we do not know what type of cards other players are holding. Players can only guess whether some players have stronger cards for the win. This is very much the same in trading wherein traders do not know where the stock will go to. Day traders have to trust their instincts and make good and wise decision in absence of perfect knowledge. Is this possible? Yes, if you know how to read and play with the odds and charts. Equity trading academy actually turns to day trading tips rules that most poker players are already familiar with.
In poker, it is easy to way if the odds are with you to win as you are able to have clues with the given cards. You will still have to guess if you have the best and strongest cards against your opponents. In the trading industry, it is less straightforward. However, you can keep the record of your most recent 50 or 100 trades and determine and work out a system that you think is perfect for you.
There is a certain trend or pattern that will appear if you will calculate how much you lose or gain on each trade. You will be able to calculate the risks of your next trade using technical analysis.
Equity Trading Firms Encourage the Poker Player Style
Another important similarity of poker and day trading is the need for risk management. When playing poker, if you are not sure you are going to win, you fold. You do not bet and take the risk because that is plain stupid. This is very similar to day trading wherein you have to take into consideration the trades – if they are good or bad trades. If they are bad trades, you let them go. There is no reason for you to hold them with hopes that they will turn around.
Equity trading firms know how tricky the stock market can get. At least by preparing the beginners with day trading tips rules then they are on their way to become the best marketers out there.
